It's almost tax day; have you done your taxes yet?

BBB
I had to mail a tax extension form this year (last week) because some tax information I need only arrived yesterday. I probably will owe some money this year but don't know for sure yet. I pay estimated taxes four times a year.

BBB

I usually send my tax returns in early. Since I pay estimated taxes any refund I am likely to get remains with the IRS as my first payment for the next year. This Year the amount of the overpayment will almost cover 1/3 of my anticipated 04 liability.

I always make my estimated payments as low as possible without owing a penalty for underestimating. If I see I have underestimated too much, I increase my payments in the 3rd and 4th installments. Better that I have an interest free loan from the government than they have one from me.

What! I'm supposed to pay taxes?!!

What the hell was the Boston Tea Party all about then?

I failed to answer the basic questions. I do my own taxes. I submit by mail on the last allowable day since I always owe money. My forms have been completed since mid February.

Electronic filing hits record highs, IRS says
Electronic filing hits record highs, IRS says
Friday, April 9, 2004 Posted: 3:52 PM EDT (1952 GMT)

WASHINGTON (AP) -- Taxpayers have been filing electronic tax returns in record numbers, the Internal Revenue Service reported one week before the April 15 filing deadline.

The nation's tax collectors said Thursday that they received 5 million more electronically filed returns compared with the same time last year. That amounts to a 12 percent increase in tax returns filed electronically even before a flood of returns arrives during the last two weeks before the filing deadline.

The IRS expects to get enough electronically filed returns in the days leading up to the April 15th deadline to beat last year's record of 53 million e-filed returns.

Taxpayers filing their returns from home, using tax preparation software or an online filing service, marked the biggest increase. Home computer filers submitted more than 11 million returns so far, a 21 percent increase over last year.

Terry Lutes, a top official in IRS Information Technology Services, said the growth reflects taxpayers' increased comfort interacting with the IRS online. Millions of taxpayers have also used the IRS Web site to check up on their expected refunds.

"This isn't some experiment any more," he said.

Mirroring the increase in electronic filing from home, more filers used the free tax preparation software offered through the IRS Web site. The free file program, in its second year, saw a 23 percent increase in participation. Taxpayers must meet certain qualifications to use the free tax software.

Lutes said the IRS expects to see growth exceeding 10 percent annually as more tax professionals adapt to the electronic system and more taxpayers purchase home computers and get comfortable using tax software.

The IRS probably won't make its congressionally mandated goal to get 80 percent of returns filed electronically by 2007, he said.

Tax software companies said they see more taxpayers using online services to file their returns.

Julie Miller, spokeswoman for TurboTax software maker Intuit Inc., said the company has seen sales increase faster in online tax preparation than desktop software sales. Intuit participates in the IRS free filing programs.

In past years, taxpayers who decided to file electronically used to be old fashioned paper filers, Miller said. Recently, the company has noticed taxpayers moving away from asking tax professionals to prepare their returns and are filing electronically on their own.

"I think a lot of it is based on the IRS putting some muscle behind increasing awareness," she said.

Craig Petz, a vice president at Petz Enterprises Inc., which runs the online tax preparation service TaxBrain, said that half of their users migrate to the Web from traditional paper filing. About 30 percent chose to use stop paying a professional and use the online service instead.

Petz said he would like to see the IRS do more to motivate taxpayers to file electronically by addressing taxpayers' concerns about electronic services.

"They need to be assuring the public about security and privacy," he said.

YAY!!!! I just got all the paperwork off to the accountant!

This calls for a drink...

Almost done. Dealing with the phone situation now. We had a dsl line installed last year, bought new cellphones with a new plan, still made long distance business calls on our regular phone, we're still kinda all over the place with that. But we're almost done. Does anyone use Taxcut? We've used it for quite a few years now. It's great.
Being self-employed, we always owe, but we've paid estimated taxes the last two quarters and it looks like the bite this go around won't be so bad.

I filed my federal stuff in February & already got my refund (a whopping $18).

I filed two state returns last week (paid no taxes & owed no taxes in one, $6 refund for another).

I'm filing my other state taxes tomorrow...I owe $200.

I gotta tinker with the withholding.